Total Net Revenues

18% increase

Total Net Revenues rose from $4.74B in Q1 2024 to $5.599B in Q1 2025. This increase reflects broad‐based revenue growth driven by rising client assets and trading activities, building on trends seen in prior periods with enhanced asset management fees and increased trading volumes as clients benefited from favorable market conditions. " "

Net Interest Revenue

21% increase

Net Interest Revenue climbed from $2.233B to $2.706B. The increase indicates improvements in yield management and a beneficial mix in interest‐earning assets, echoing previous period dynamics where effective management of the funding structure and better positioning in changing interest rate environments contributed to revenue gains. " "

Net Income

40% increase

Net Income jumped from $1.362B to $1.909B. This outsized gain relative to revenue growth suggests enhanced cost control and margin expansion, building on earlier achievements in revenue diversification and efficiency, which helped drive profitability higher compared to Q1 2024. " "

Asset Management and Administration Fees

13.6% increase

Fees grew from $1.348B to $1.530B. Increased fee revenue is driven by higher average client asset balances across money market, equity, and bond funds, which mirrors earlier trends of strong client inflows and growing managed solutions; this continuity reinforces the company’s strategic positioning in asset management. " "

Trading Revenue

11% increase

Trading Revenue increased from $817M to $908M. This improvement stems from higher trading volumes and a favorable shift in the mix of client activities, consistent with prior periods where robust market participation spurred incremental revenue gains in the trading segment. " "

Bank Deposit Account Fees

34% increase

Bank Deposit Account Fees rose from $183M to $245M. The significant jump is likely due to higher net yields on account balances and a shift toward more favorable balance compositions, building on previous period observations where the absence of breakage fees and adjustments in interest rate pass-through contributed to revenue enhancements. " "